So the news from the sources is that, All lines are clear for Narendra Modi to be the PM Candidate for NDA in the upcoming Loksabha elections 2014.

Economic Times has reportedly said that BJP has decided their PM candidate and may officially announce Modi as their PM candidate by the End of July.

Will contest from Varanasi :

Its known that the way to Delhi is via Uttar Pradesh which has the Maximum Loksabha seats.
Economic Times reports say that one official RSS Leader has told that Modi may represent Varanasi in the upcoming Loksabha elections 2014.

BJP will be looking to sweep maximum number of seats in Uttar Pradesh to gain a strong position in the elections.

All Lines Clear for Modi :

The reports also say that top RSS leaders has consoled Lalkrishna Advani also, not to oppose Modi as the PM Candidate, and he has reportedly agreed.
Its known that JDU, who was opposing Modi as PM Candidate, broke the 17 year old alliance.

Huge Support :

Most of the BJP volunteers and leaders see Modi as the upcoming PM of India. Modi is backed by many religious persons. Swami Ramdev has openly came up in support of Modi.
Modi carries a huge support over the Social media too.

It would be very Interesting to see the contest between Rahul Gandhi and Narendra Modi in the upcoming elections.